QDTE vs. GPIQ

Last updated Aug 4, 2026

QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) and GPIQ (Goldman Sachs Nasdaq-100 Core Premium Income ETF) are both exchange-traded funds - QDTE is a Derivative Income fund actively managed by Roundhill, while GPIQ is a Nasdaq-100 fund actively managed by Goldman Sachs. Both are actively managed. Over the past year, QDTE returned 26.26% vs 25.84% for GPIQ. Their 0.97 correlation means they have historically moved very closely together. QDTE charges 0.95%/yr vs 0.29%/yr for GPIQ.

Performance

QDTE vs. GPIQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) and Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QDTE achieves a 11.57% return, which is significantly lower than GPIQ's 13.18% return.

QDTE

• 1D: 0.94%
• 1M: -0.61%
• 6M: 9.13%
• YTD: 11.57%
• 1Y: 26.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 20.27%

GPIQ

• 1D: 1.36%
• 1M: -1.54%
• 6M: 10.62%
• YTD: 13.18%
• 1Y: 25.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 26.64%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	$89.39M	$82.61M	$83.97M
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	$17.47M	$18.24M	$19.80M

QDTE vs. GPIQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	11.57%	19.32%	17.13%
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	13.18%	19.77%	15.64%

Correlation

The correlation between QDTE and GPIQ is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.98
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024	0.97

The correlation between QDTE and GPIQ has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

QDTE vs. GPIQ - Sectors Allocation Comparison

Sectors	QDTE	GPIQ
Financial Services	5.3%	0.2%
Basic Materials	-	1.1%
Communication Services	-	11.8%
Consumer Cyclical	-	10.1%
Consumer Defensive	-	6.4%
Energy	-	0.5%
Healthcare	-	3.7%
Industrials	-	4.2%
Real Estate	-	0.1%
Technology	-	60.7%
Utilities	-	1.4%

Return for Risk

QDTE vs. GPIQ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

QDTE

QDTE Risk / Return Rank: 64
QDTE Sharpe Ratio Rank: 62
QDTE Sortino Ratio Rank: 56
QDTE Omega Ratio Rank: 58
QDTE Calmar Ratio Rank: 73
QDTE Martin Ratio Rank: 70

GPIQ

GPIQ Risk / Return Rank: 69
GPIQ Sharpe Ratio Rank: 66
GPIQ Sortino Ratio Rank: 64
GPIQ Omega Ratio Rank: 64
GPIQ Calmar Ratio Rank: 76
GPIQ Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QDTE vs. GPIQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) and Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	QDTE	GPIQ	Difference
Sharpe ratio: Return per unit of total volatility	1.47	1.56	-0.09
Sortino ratio: Return per unit of downside risk	1.98	2.15	-0.17
Omega ratio: Gain probability vs. loss probability	1.26	1.28	-0.02
Calmar ratio: Return relative to maximum drawdown	2.59	2.73	-0.14
Martin ratio: Return relative to average drawdown	8.76	9.62	-0.86

QDTE vs. GPIQ - Sharpe Ratio Comparison

The current QDTE Sharpe Ratio is 1.47, which is comparable to the GPIQ Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of QDTE and GPIQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

QDTE vs. GPIQ - Drawdown Comparison

The maximum QDTE drawdown since its inception was -22.86%, which is greater than GPIQ's maximum drawdown of -21.06%. Use the drawdown chart below to compare losses from any high point for QDTE and GPIQ.

Drawdown Indicators

	QDTE	GPIQ	Difference
Max Drawdown Largest peak-to-trough decline	-22.86%	-21.06%	-1.80%
Max Drawdown (1Y) Largest decline over 1 year	-10.20%	-9.51%	-0.69%
Current Drawdown Current decline from peak	-4.45%	-4.62%	+0.17%
Average Drawdown Average peak-to-trough decline	-3.17%	-2.34%	-0.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	2.69%	+0.31%

Volatility

QDTE vs. GPIQ - Volatility Comparison

Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) and Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ) have volatilities of 6.69% and 6.41%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QDTE	GPIQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.69%	6.41%	+0.28%
Volatility (6M) Calculated over the trailing 6-month period	14.76%	14.11%	+0.65%
Volatility (1Y) Calculated over the trailing 1-year period	17.99%	16.68%	+1.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.17%	18.06%	+1.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.17%	18.06%	+1.11%

QDTE vs. GPIQ - Expense Ratio Comparison

QDTE has a 0.95% expense ratio, which is higher than GPIQ's 0.29% expense ratio.

Dividends

QDTE vs. GPIQ - Dividend Comparison

QDTE's dividend yield for the trailing twelve months is around 45.98%, more than GPIQ's 10.15% yield.

Position	TTM	2025	2024	2023
GPIQ Goldman Sachs Nasdaq-100 Core Premium Income ETF	10.15%	9.81%	9.18%	1.74%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	45.98%	49.49%	32.09%	0.00%

Frequently Asked Questions

Can I hold both QDTE and GPIQ in my portfolio?

With a correlation of 0.98, QDTE and GPIQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, QDTE or GPIQ?

QDTE has higher volatility (6.69%) compared to GPIQ (6.41%). In terms of maximum drawdown, QDTE dropped -22.86% vs GPIQ's -21.06%.

Which ETF is better, QDTE or GPIQ?

On 1-year performance, QDTE leads with 26.26% vs 25.84% for GPIQ. On fees, GPIQ is cheaper at 0.29% per year. On volatility, GPIQ has been the lower-risk option at 6.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QDTE or GPIQ?

Over the 1-year period, QDTE has performed better with a 26.26% return vs 25.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QDTE or GPIQ?

GPIQ is cheaper with a 0.29% expense ratio, compared with 0.95% for QDTE.

Which ETF pays a higher dividend yield, QDTE or GPIQ?

QDTE has the higher dividend yield at 45.98%, compared with 10.15% for GPIQ.

What is the main difference between QDTE and GPIQ?

QDTE is categorized as Derivative Income, while GPIQ is Nasdaq-100. They also come from different issuers: Roundhill and Goldman Sachs. Their fees differ too: 0.95% for QDTE and 0.29% for GPIQ.

Which has better risk-adjusted returns?

GPIQ currently has the higher Sharpe Ratio (1.56 vs 1.47), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.